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ECB's Weber sees interest rates floor at 1 pct

ECB's Weber sees interest rates floor at 1 pct

European Central Bank governing council member Axel Weber, the president of Germany's Bundesbank, said Tuesday he would like the euro region's main interest rate to be cut no further than to 1 percent.
Speaking at an event at the Bundesbank, Germany's central bank, Weber said his personal view is that the ECB could cut rates again from the current 1.5 percent, but not by much.
"In relation to the current situation, I see the threshold of 1 percent as the lower limit," Weber said
Last week, the ECB lowered its main refinancing rate by a half percentage point from 2 percent.


Updated : 2021-03-07 13:42 GMT+08:00